New Venture Research Project - Lean Methodology Steps, Business Ecosystem, Risk Tables, And Business Model Essay.

Description: You are asked to complete all steps of the lean methodology to research the viability of your new venture idea. Your report must detail all steps (i.e. CPS, Business Ecosystem, Risk Tables, Summation of Risk and Final Business Model).

Customer problem statement

Ambient interaction can be considered as the prime issue for the smart space designers which are quite true for the current new venture of building a new office for event management. Interactive designs are still emerging through various experimentations. Purpose of supporting flexible transparent as well as efficient means of the environment interaction framework inspires the rising interest for ambient interaction. This approach is regarding the concept of the universal access ability which requires improvement and successive intuition belonging to information technologies in daily lives.

The prime problem statements that the customer can face are related to the environment and biodiversity. Any kind of pollution will take place due to the construction of a particular house in order to set up an office. The issues can be illustrated as:

Land use and biodiversity are one of the biggest issues in order to start up any new venture because before constructing any workplace the land must be cleaned and therefore uprooting plants is necessary which causes of deforestation. Removing plants and trees also cause an imbalance in nature and the lifestyle of animals (Epstein, 2018).

Toxic chemicals and heavy metals shall be used in the construction of the workshop and therefore it will definitely pollute the soil, air and water nearby. The wastage of materials while constructing the place will be down into nearby rivers Ponds and lakes which will cause the water habitat to be destroyed.

The different smoke of burning chemicals and that will cost a huge amount of air pollution which can disturb the residents and the wildlife habitat in that place. The products such as vegetarian products and other food manufacturing in that area may get spoilt due to the air and water pollution taking place due to the construction.

The environmental interactive Framework is supposed to satisfy 5 different requirements for creating a new venture. These are explained as follows:

Accessibility: it is the ability of an application for using impoverished output and input. For example, use of a bandwidth or any missing device can establish interaction and techniques for compensating decreased compatibility of a device or task. Accessibility to the smart devices used in the construction of Ventures must be therefore supervised by incorporating the environment interactive framework (Cabeza, Rincón, Vilariño, Pérez & Castell, 2014).

Controllability: It is the capacity of an application for using input as well as output devices and standard input and output in a more effective way.

Configurability: It is the ability of usual for selecting feeling in order to use the input and output devices as well as modalities to control any application. This is included in device selection as well as making customisation as a basic action to the specification of some powerful interaction techniques. Every specification plays a prime role in the configurability of interaction (Guenther, Endrikat, & Guenther, 2016).

Extensibility: It must be easy for extending a set of the input as well as output devices together with actuators as supported by an interactive framework. Using standard technology and establish and protocols required for both devices and services provide robustness of their uses.

Environmental Interactive framework and its elements

Dynamicity: it shall be quite possible for users to switch dynamically between the system and modality as the devices need to be adopted at last.

The interaction model is necessary for starting up a new business because it contains certain principles properties and rules which can guide several designs of the interfaces. it also describes the ways of combining interaction strategies in a consistent and meaningful way. Properties of the interaction model are used for evaluating specific community and smoothness of work or construction can be insured. The interactive framework of the environment also looks after the communication channels to be appropriate enough for guiding the designers in a productive way.

This environmental interactive Framework can be used for eliminating several issues found while commencing a new venture (Pittock, 2017). Some of the key requirements of environmental interaction framework include social capital, human capital, financial capital, generalist or specialist and r or k strategy. Other elements involved Socio-Political legitimacy, value chain, Value shop, value Network and cognitive legitimacy.

Along with different issues to be overcome by the application of interactive framework of environment there are ample opportunities aside. These opportunities include launching of new program and ideas along with creating the new venture, hosting different entrepreneurship events, incubator and popups. Social opportunities for making people aware about entrepreneurship are also provided by this interactive framework. New ideas such as popup box can showcase what is the Hot to shop Experience at the Queensland University of Technology as well as help the entrepreneurial ideas of University students along with the services, products, social and Business Enterprises (Szeto& Cheng, 2016). As discussed about human capital financial capital and social capital are some elements needed for this framework to work actively. Human capital includes knowledge and capabilities of the workers or employees as well as their personal attributes and habitats. People must be able to create value in their activities so that they can be reaped in future. Social capital includes relationship and networks build up between the colleagues or workers working together in the new venture. It also includes the transactions like Corporation, trust and reciprocity that the mutually share with each other.

The necessary actors and enablers on a mechanism which behave as an external enabler to environment interactive theory are:

Compression: It is the reduce time needed for any activity

Resource expansion:  high quantity of the accessible resources for example crowd funding which is the increased amount of funds for start-ups and innovation

Conservation:  loading the number of different resources necessary for a task

Combination:  pairing up with the external resources and artefacts for providing functionality

Legitimation:  increase in cultural acceptability or legal of venture and its offerings

Demand substitution:  it is the rising demand which is the result of making a focal venture and its market offerings much more attractive compared to the competition

 Generation: it is the enabling of creating new artefacts

Demand expansion: it is the rise in demand for a product at the provided functionality and price

                                                                                     (Source: Pittock, 2017)

Some of the necessary assumptions in relation to the ecosystem issues and building up a new venture are:

• A community model based on the size of the venture can be used for making impact assessment over different strategies. Ecosystem models will generally support preposition resulting in lower levels of disruption in the ecosystem structure.
• The ecosystem model can predict the higher amount of yield from the individual species present in the land where the construction is to take place. Spectrum models tend to be a realistic because they hardly produce dome-shaped and door lumpy distributions of biomass (Pittock, 2017). Density distribution of biomass is really typical and makes the entire model complicated.
• It is also assume that the construction of an office can harm the species living in the habitat of that particular area and it may affect the ecological balance.  Therefore, the model can figure out the needs and requirements of the species and providing them with the habitat there used to getting.

Some of the risks which are present in construction of a new venture are represented in the form of a table along with its effects and rating to illustrate consequence level of the risk.

From the above findings, the relevant assumptions and risks included in the construction activities have been markdown. The assumptions mainly relate to the ecological model provided along with the diagram and therefore critically figures out the probabilities that can take place in building up a new venture and its construction-related work.  The five most possible risks have been mentioned in the above section where the most damage prone risk is the electrocution to workers. Other 4 threats also take place at the time of construction activities however they can be managed other than the risk of collapse. It is nearly or Southern risk which is not at all predictable and foreseeable. The findings can also summarise about the environment interactive Framework which is the crucial model to be used in the creation of a new enterprise and is useful to the entrepreneurs in managing the ecological balance as well as biodiversity.

References

Cabeza, L. F., Rincón, L., Vilariño, V., Pérez, G., & Castell, A. (2014). Life cycle assessment (LCA) and life cycle energy analysis (LCEA) of buildings and the building sector: A review. Renewable and sustainable energy reviews, 29(1), 394-416.

Epstein, M. J. (2018). Making sustainability work: Best practices in managing and measuring corporate social, environmental and economic impacts. Routledge.

Guenther, E., Endrikat, J., & Guenther, T. W. (2016). Environmental management control systems: a conceptualization and a review of the empirical evidence. Journal of Cleaner Production, 136, 147-171.

Pittock, A. B. (2017). Climate change: turning up the heat. Routledge.

Szeto, E. & Cheng, A.Y., (2016). Towards a framework of interactions in a blended synchronous learning environment: what effects are there on students' social presence experience?. Interactive Learning Environments, 24(3), pp.487-503.